Refurbishment of existing Nore I power plant

Statkraft has decided to refurbish Nore 1 hydropower plant in Buskerud, Norway. The refurbishment will ensure further hydropower production at the facility for many years to come. Plans to build a new Nore 1 power plant are cancelled.

Statkraft has come a long way in planning the new power plant and had taken into account the technical and financial resources to construct a new plant. However, energy prices have had a downward trend and the low prices make refurbishment of existing facilities the most attractive alternative.

“We had several options reviewed for Nore 1. In today’s energy market with low energy prices, refurbishment is the best option,” says Executive Vice President Hilde Bakken.

This means that Statkraft will not send any requests related to a new Nore 1 power plant.

The work will mainly include electrical and mechanical components and will take place over several years. Preparation for the work will start this summer. Nore 1 has an annual production of approximately 1.2 TWh which represents just below 1 percent of Norwegian power production.